224 E Pine StIronwoodMI49938
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Ironwood at 224 E Pine St, Ironwood, MI, 49938 priced at $110,000 converts $1,927/mo rent into $1,202/mo cash flow after a $538/mo obligation. Total monthly income equals $1,927/mo, and annual cash flow totals $14,424/yr on $36,465 invested. Return on cash invested prints 59.46% in year one, and rental yield reads 21.02% against a $110,000 entry. Equity gained on principal adds $710/yr, while 5% annual appreciation compiles into $30,391 by year five. Five-year ROI reaches 315.42% and total cumulative return in cash sums $115,020. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,927/mo property income covering a $538/mo payment, not borrower’s personal income.
Single Family
Built in 1905
8,712 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
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Listed by: WENDY ROUTHEAUX • SILVER PROPERTIES-EXP REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50154494
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.